Thorcon International Pte. Ltd., will allocate funds worth Rp17 trillion (US$1.21 billion) to develop nuclear power plants in Indonesia - Photo: Privacy.

JAKARTA (TheInsiderStories) – Nuclear power firm ThorCon International Pte. Ltd., committed to allocate funds worth of Rp17 trillion (US$1.21 billion) to develop nuclear power plants in Indonesia, the company said on Tuesday (09/17). But, the company said, to realize the planned, the power producer asked for legal certainty from the government to ensure the smooth development until 2027.

Last July, ThorCon and state-onwed company PT PAL Indonesia had signed an agreement to conduct a feasibility study of a 500 megawatts reactor. Both parties to build a thorium power plant in Indonesia.

Before the construction of the plant, first ThorCon build a testbed platform with an investment of $70 million to validate the design, test the thermal-hydraulic system, and the safety system. Its expected to run for two years starting next year.

Indonesian Chief Representative of ThorCon Bob Effendi worried without legal certainty, the development would be stalled and could not be completed on target. He asserted,¬†“We need certainty, which is legal certainty over the program and investment certainty. Like many in other countries, the program has been running but then stopped due to legal problems.”

So far, ThorCon plans to build a nuclear power plant with a capacity of 500 MW (TMSR500) that can be operated by carrying or following a basic load. That was built using a ship structure design method with a length of 174 meters and a width of 66 meters which is equivalent to a Panamax class tanker.

The plant will be built by Daewoo Shipyard & Marine Engineering in South Korea which is the largest shipyard in the world. Daewoo said it was able to build the plant within three years. The reactor will be supplied by Doosan Group, a South Korean heavy equipment manufacturer.

With this plan, Effendi hope the government will quickly provide a legal standing as an investment guarantee to support the development of nuclear energy in Indonesia. According to him, the regulation could be in the form of a Presidential Regulation to accommodate the large investment.

“We want a Presidential Regulation specifically related to this project. We need a legal standing that protects the program as a whole,” he said, adding that Thorcon is targeting the plant to operate commercially in 2027.

Commenting this, an official from the energy and mineral resources ministry, Sujatmiko, said the study of the development and implementation of the nuclear power plant had been carried out for 10 months, local media reported on Tuesday. It has just completed a study of ThorCon’ thorium-fueled power plant.

The results, the nuclear power plant met the initial requirements in accordance with the provisions of Law Number 10 of 1997 on Nuclear Power, as well as Law Number 17 of 2007 on the National Long-Term Development Plan of 2005-2025, Law Number 10 of 2007 which mandates the use of nuclear power plants in 2025.

The nuclear power plant project is also mandated in Government Regulation Number 79 of 2014 regarding the National Energy Policy. The rules states, to reduce carbon emissions and meet the urgent national energy demand, nuclear energy can be utilized as an energy supply with the condition that it must be operated at a high level of safety at an affordable price targeted below the national cost of supply of $0.077 per kilowatt hours.

Apart from the rules, the development of nuclear power plants is supported by the safety aspect. Sujatmiko concluded, theoretically, ThorCon’ technology in the construction of nuclear power plants has a high level of safety, operate at low pressure, cost-effective and produces clean electricity.

ThorCon is a company that is engaged in nuclear power and has started its activities in Indonesia since 2015.

US$1=Rp14,000

Written by Lexy Nantu, Email: lexy@theinsiderstories.com